Nigeria seeks deeper ties on trade

Nigeria seeks deeper ties on trade and diplomatic initiatives with Saudi Arabia

Nigeria’s foreign minister said he hopes trade with Saudi Arabia will flourish after creating new business and diplomatic initiatives during his visit to Riyadh.

Jeffrey Onyema and Saudi Foreign Minister Prince Faisal bin Farhan have agreed to create a joint economic council and a diplomatic corps exchange program to promote cooperation and deepen ties.

“Especially I felt that the trading level could be greatly improved. The energy sector is one of the areas where both countries are very strong, as both countries are both oil producers and exporters and therefore have similar economic characteristics.” Onyeama said.

Prince Faisal and Onyema reviewed bilateral cooperation and discussed ways to further strengthen security, trade, energy, and the economy.

“We have emphasized the importance of enabling investment in each other’s countries and the importance of achieving this through concrete actions,” Onyeama said of the new council.

“With these two institutional mechanisms we are putting in place, we believe that in 5-7 years the relationship will be even closer”, said Onyeama.

Onyeama and Prince Faisal said they looked at areas that could boost business, including energy, inclusiveness, security, and stability.

“He added that the two ministers also discussed expected reforms of multinational institutions like the United Nations to “make today’s world more inclusive and representative”. Saudi Arabia.

Ministers also addressed various key global issues in their respective regions, including Libya, Yemen, Syria, Lebanon, Palestine, and the terrorist crisis in West Africa.

Onyeama also acknowledged the financial support Nigeria received from Saudi Arabia and efforts to organize a pledge conference to aid the humanitarian crisis caused by the terrorist group Boko Haram.

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During her visit to the Kingdom, Onieama also visited the birthplace of Diriyah, Saudi Arabia’s first province, to talk about the Kingdom’s cultural heritage.

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